CFR 12-234.5-2014 Banks and banking. Part234:Designated financial market utilities (regulation HH). Section234.5:Access to Federal Reserve Bank accounts and services.
(a) This section applies to any designated financial market utility for which the Board may authorize a Federal Reserve Bank to open an account or provide services in accordance with section 806(a) of the Dodd-Frank Act. Upon receipt of Board authorization and subject to any limitations, restrictions, or other requirements established by the Board, a Federal Reserve Bank may enter into agreements governing the details of its accounts and services with a designated financial market utility, consistent with this section and any other applicable Board direction. The agreements may include, among other things, provisions regarding documentation to establish the account and receive services, conditions imposed on the account and services, service charges, reporting, accounting for activity in the account, liability and duty of care, and termination.
CFR 12-234.5-2014 history
2014CFR 12-234.5-2014 Banks and banking. Part234:Designated financial market utilities (regulation HH). Section234.5:Access to Federal Reserve Bank accounts and services.